Offers Over $870,000
Date Listed 10/01/19
An exciting and often rare opportunity to secure a block of 4 units with an abundance of parking, outdoor areas and a current gross income of approximately $1005 per week.
With leases already in place to good long term residential tenants, the complex is an easy 'set & forget' investment as is but also offers the potential for upgrade and potential to add further value.
The units are of low maintenance construction, being brick veneer with tile roof & aluminum windows. They are set on a level allotment and its corner location provides 2 accesses and privacy for the residents.
Accommodation is as follows for the units;
Unit 1: Is the largest unit of the group offering 3 excellent sized bedrooms with built-ins, spacious kitchen / dining with access to a private balcony and sunroom. Large lounge room with mountain views and a family bathroom. This unit provides secure parking via a large garage with storage & workshop space or two smaller cars and an additional off street car space. The rent is currently $305 per week and the tenant has been here for 9 years.
Unit 2: Provides 2 good sized bedrooms, large kitchen / dining, lounge, family bathroom and separate laundry with access to a lovely backyard yard and beautiful gardens. Outside also offers a double carport for secure parking. The rent is currently $230 per week and the tenant has been here for 9 years.
Units 3 & 4: These are mirror image to each other. Both offer 1 very large bedroom and combined bathroom/laundry. The open plan kitchen/lounge is a good size. Unit 3 has a small fenced yard and two off street car spaces and Unit 4 has its own access on a separate street and also provides parking for 2 cars. One is rented for $220 and the other $250. They both have new carpet and one has a new heat pump.
This is a pleasing package for the astute investor, the property has a history of low vacancy, has scope for rent growth through some small upgrades and offers the potential to strata title at a later date (S.T.C.A). All the shops, services & conveniences are only a short distance away and rental demand for this location is high.
Whether you choose to purchase this complex within your self managed super fund, a family investment or just individually, this property would attract any sensible investors attention.
Thinking of Selling?
If you are curious to know the value of your home and would like a no obligation free appraisal please contact the National Award winning Natalie Downton.
Buying the perfect property requires the perfect loan so give Yellow Brick Road Wealth Management Hobart a call on 03 6135 4875 or head to www.ybr.com.au/hobart to check out what the team can do for you!